New 4-room HDB flats at Punggol cost up to $293K!!!

[temasekreview]

HDB will be launching 1,142 units of flats at Punggol Spectra for sale under the Build-to-Order (BTO scheme).

The flats comprise 301 two-room units, 285 three-room units and 556 four-roomers.

The prices range from $89,000 to $109,000 for the two-room flats, $151,000 to $179,000 for the three-room flats and $234,000 to $293,000 for the four-room flats.

HDB claimed that the flats are affordable to first-time flat buyers as they are priced well below the 30 per cent international benchmark for affordable housing. However, it did not indicate the source or authority behind the benchmark.

The rising price of HDB flats which has already hit a peak this year is a perennial concern for Singaporeans. Government ministers and HDB are adamant that HDB flats remain affordable to Singaporeans despite sentiments on the contrary.

Read rest of article here:

http://temasekreview.com/?p=12720

 

[LonewolfAlfa]

its considered cheap, becuz an old 3 room hdb flat in beach road is going for $355k.

 

[oli9]

It must be a steal for those who bought the Pinacles @ Duxton. Punggol is far flung & crammed with bad fengshui. Im really surprised why would anyone cough up so much for a slot of pigeon hole.

 

[halsey02]

SUBSIDIZE, SUBSIdiZe, you can't pay, you DIE!...the spectra will be come a spectre in the house owners eyes...when HDB come calling, Singapore Power come calling, MDA ( TV Licence) come calling, Town Coucil come calling, IRAS come calling......the residents do the CRAWLING...

SubsiDIzE.....you can't pay...you DIE!!!:p

 

[SotongMee]

Pigeon hole now so expensive if buy later no job sure die one!

Only shell animals carry their house with them, with this kind of mortgage sure suffer one.

SUBSIDIZE, SUBSIdiZe, you can't pay, you DIE!...the spectra will be come a spectre in the house owners eyes...when HDB come calling, Singapore Power come calling, MDA ( TV Licence) come calling, Town Coucil come calling, IRAS come calling......the residents do the CRAWLING...

SubsiDIzE.....you can't pay...you DIE!!!:p

 

[Kuailan]

SUBSIDIZE, SUBSIdiZe, you can't pay, you DIE!...the spectra will be come a spectre in the house owners eyes...when HDB come calling, Singapore Power come calling, MDA ( TV Licence) come calling, Town Coucil come calling, IRAS come calling......the residents do the CRAWLING...

SubsiDIzE.....you can't pay...you DIE!!!:p

The word Gahmen like say "SuBsiDIE" this never happened we are all being
BULLSHIT by HDB since when they "SubsiDIE?" Pigeon price has been escallating like nobody business, this is an opportunistic Gahmen, behave like businessman. Where got "SubSIDIE"

This very very true and realistic::::HDB come calling, Singapore Power come calling, MDA ( TV Licence) come calling, Town Coucil come calling, IRAS come calling......the residents do the CRAWLING...

 

[Hock]

Hyperinflation is coming soon. Paper money will be worthless soon. Better
buy HDB before your paper money becomes worthless.

If rent, you will be kicked around like a football. Now, set up a tent at the beach also cannot already. Maybe void deck still can bunk.

 

[Gillette]

Construction cost for public housing is S$150-200 psf. Assuming S$200 psf, for 4-room flat of 90 sqm, construction cost will be S$194k.

At minimum selling price of S$234,000, HDB’s profit is at least S$40,248, or S$41.54 psf of plot ratio. (Since the land on which the flat is built is owned by the state, it is essentially at zero cost, so HDB and SLA can be considered as one entity.)

This translates into a gross margin of 17% on the selling price. (If considering project cashflows are on progress payment basis, return on equity or IRR is even higher >30%) Since the flats are build-to-order, HDB also does not bear any market risk.

It is certainly a business model that developers would die for. Furthermore HDB is allowed to blatantly declare they have made public housing affordable by giving “market subsidy”.

 

[borom]

Hyperinflation is coming...money will be worthless soon. Better buy HDB ...If rent, you will be kicked around..

Even if so (and I do not agree), why HDB?-with all its restrictions and no strata title.
There are other choices like private properties, shares and stocks, metals, commodities ect2.

Those who bought private properties during the last peak in 1996/1997 will never recover their massive losses esp if they had borrowed up to 80/90%.

This is repeating itself since June this year and we will soon see another cohorts of greedy/kiasu people being enslaved for their life to their property.
What a horrible feeling to have to work to your bones till 62 and yet be unable to pay off your mortgage and with little or no savings left.

 

[takcheksian]

To the Greater Immortals earning many $600k peanuts, of course HDB is affordable (even if they wanted to live in one).

Besides, in their minds they are the real Singaporeans. The HDB dwellers are merely heartlander scum or lesser mortals or some kind of inferior animal.

Up prices more! Up GST! We love PAP! :p:p:p

HDB will be launching 1,142 units of flats at Punggol Spectra for sale under the Build-to-Order (BTO scheme).
r, it did not indicate the source or authority behind the benchmark.

The rising price of HDB flats which has already hit a peak this year is a perennial concern for Singaporeans. Government ministers and HDB are adamant that HDB flats remain affordable to Singaporeans despite sentiments on the contrary.

Read rest of article here:

http://temasekreview.com/?p=12720

 

[Whats4]

as long as u can pay your mortage, can't afford other spendings, its considered affordable

 

[halsey02]

Construction cost for public housing is S$150-200 psf. Assuming S$200 psf, for 4-room flat of 90 sqm, construction cost will be S$194k.

At minimum selling price of S$234,000, HDB’s profit is at least S$40,248, or S$41.54 psf of plot ratio. (Since the land on which the flat is built is owned by the state, it is essentially at zero cost, so HDB and SLA can be considered as one entity.)

This translates into a gross margin of 17% on the selling price. (If considering project cashflows are on progress payment basis, return on equity or IRR is even higher >30%) Since the flats are build-to-order, HDB also does not bear any market risk.

It is certainly a business model that developers would die for in their. Furthermore HDB is allowed to blatantly declare they have made public housing affordable by giving “market subsidy”.

They will clearly tell you, that SLA, URA, HDB, PAP are seperate entities...one does not influence the other, and so is MOF, Temasick, GIC etc.., are also seperates & independent entities which is not reaated...and so forth..

How can a MONOPLIST does not make money?, land is acquired through the acquisition act...etc

 

[coolguy]

Don't talk so much lah. Buy first, think later.
You put your $$ inside bank also like that. Interest so pathetic.
May as well invest in my pigeon holes. Err...I mean housing property.

 

[Char_Azn]

HDB claimed that the flats are affordable to first-time flat buyers as they are priced well below the 30 per cent international benchmark for affordable housing.

Wat freaking benchmark are they using? Hoe prices in Switzerland?:oIo::oIo::oIo:

 

[makapaaa]

>>>Construction cost for public housing is S$150-200 psf. Assuming S$200 psf, for 4-room flat of 90 sqm, construction cost will be S$194k. <<<

Nope, it's $40k to $50k per PHole.